Comments on: Nouriel Roubini sees ‘the roots of the next crisis in the current one’ Sun, 28 Jul 2013 14:34:09 +0000 hourly 1 By: ARJTurgot2 Tue, 14 Dec 2010 14:42:46 +0000 More than a bit simplistic. The U.S. and Britain weren’t the only Liberal Democracies providing those public goods, plus I’m not sure that the U.S. wasn’t much more than an extension of the British empire (with better domestic weather to keep us from wandering as much). Words like NATO, SEATO, IMF, World Bank, (even sometimes U.N.) document the ecumenical character of power in the last half century.

In fact, it is totally possible that the lack of a single dominant power will finally force those freeloading countries to get off their duff, or face declines in their own stability. Even the French are capable of recognizing the desirability of secure and open sea lanes.

By: BraveTruth Sat, 11 Dec 2010 02:35:23 +0000 the reason boom bust cycles are predictable is that the present debt-money system. The money and credit supply is created as debt by privately owned Central Banks. Government officials, elected or career bureaucrats and academia on the other hand are highly corruptible–intellectually, monetarily, power, and status wise. Therefore, no one talks about the money issue honestly.

A government for the people shall not need to borrow “debt money” from the bankers who create the “debt money” out of thin air, and use that money to buy and fund the government power, which collect taxes from real people’s sweat equity to pay interest to the bankers.

The bankers profit from the boom and bust cycles. The bankers create a lot of phantom debt-money in order to create a lot of debt-obligations which allow bankers to collect a lot of interests from real people and businesses who convert the debt-money into goods and services (interest and principle payments are based on money that acquired “real” status from the sweat labor and assets of the real people and businesses).

The Bust Cycles allow the bankers to purchase assets pennies on the dollar.

This is why the Boom and Bust cycles are predictable and periodic. The third world countries are more clueless than the developed countries about the nature of debt money, and its death grip is especially bad. For the developed countries, the death is slower, but certain. It is only a matter of time.

To solve this problem, Central Banks and Federal Reserve must be abolished, and the “people” must create debt-free money and credit. This debt-free money and credit can be loaned to people and businesses directly with nominal interest–say 0.25% to 4% depending on the desirability and importance of the economic activities to the society.

All “banks” must be “mutually owned” by the depositors. For example,local and community banks are owned by the depositors. Federal Banks are owned by all people of the country on a basic alloted shares for each citizen, with additional shares alloted by the amount of tax paid. State Banks should be similarly owned.

Government bodies are funded from the interest payments collected, which would greatly reduce the tax burden on the citizens. The amount of money and credit issued is exactly matched to the growth rate desired. There would be very little or no inflation, no deflation, no sovereign debt, and no irresponsible banksters/gamblers/fraudster who pocket profit privately, and socialize loses of their gambling and frauds. The bankers are so rich and powerful, all politicians,economists, academia, and talking heads are basically mesmerized and fearful of exposing the simple truth.

By: fred5407 Thu, 09 Dec 2010 02:24:53 +0000 Just normal. The small investors lost. It was a game not to be in and I, for one, will not go back into the market. I think Mr Roubini knows a lot, but just because he does does not mean we should all follow him. I think our leaders are looking for a golden horse shoe, but common sense will win every time.